IEA sees a 25% copper supply shortfall through 2035 as data-center power use rises to 950 TWh in 2030
AI Market Summary
IEA projections of a persistent copper supply deficit through 2035 (25% shortfall) alongside sharply rising data-center electricity demand highlight tightening constraints on electrification and AI buildout. The narrative elevates medium-term scarcity and input-cost risk for energy transition supply chains, increasing market sensitivity to copper availability, mining/refining capacity, and geopolitical or trade frictions that could exacerbate near-term procurement and pricing volatility.
Impact level
● Medium
Affected assets
NCCO724COPPER2USD/USDT-0.54%
AI Insight · NCCO724COPPER2USD/USDTAI Insight
▲ Bullish
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The International Energy Agency’s Global Critical Minerals Outlook 2026, published in July, projects that copper supply deficits will persist through 2035, leaving a 25% shortfall. The IEA also forecasts data-center electricity consumption will roughly double from 485 TWh in 2025 to 950 TWh in 2030. By 2030, that would account for around 3% of global electricity demand, according to the agency’s Key Questions on Energy and AI report.
